§7981 Milk Price Support Program

Summary

From June 1, 2002, through December 31, 2007, the Agriculture Secretary must support milk prices in the 48 contiguous states by buying cheese, butter, and nonfat dry milk made from that milk. The support level is $9.90 per hundredweight for milk with 3.67 percent butterfat. The Secretary must set the same purchase price for everyone selling a given product. Those prices must let an averagely efficient plant pay farmers, on average, at least the $9.90 support level. The Secretary may split the support between butter and nonfat dry milk to lower Commodity Credit Corporation costs or meet other goals, may change that split up to twice a year, and must notify the House and Senate Agriculture Committees within 10 days of any change. The usual rule in section 553 of title 5 does not apply to implementing this program. The Commodity Credit Corporation will run the program.